NEWS: Closed $13.22-million bought deal📈[url=https://www.stockwatch.com/News/Item?bid=Z-C%3aMMED-2911242&symbol=MMED®ion=C]2020-05-26 11:58 ET - News Release Mr. J.R. Rahn reports MINDMED CLOSES UPSIZED FINANCING OF $13.2M TO ADVANCE UHB LIECHTI LAB COLLABORATION FOR NEXT-GEN PSYCHEDELIC INSPIRED MEDICINES Mind Medicine (MindMed) Inc. has closed its previously announced bought deal short form prospectus offering, including the exercise in full of the underwriter's overallotment option. In connection with the Offering, the Company issued 24,953,850 units of the Company at a price per Unit of 53 cents for gross proceeds of $13,225,540.50. Eight Capital acted as sole bookrunner and underwriter in the Offering. Each Unit comprises one subordinate voting share of the Company (a "Subordinate Voting Share") and one-half of one Subordinate Voting Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder thereof to purchase one Subordinate Voting Share at an exercise price of $0.79 until May 26, 2022. If, prior to the expiry of the Warrants, the daily volume weighted average price of the Subordinate Voting Shares on the facilities of the Neo Exchange Inc. is equal to or greater than $1.13 for any 10 consecutive trading days, the Company may, upon providing written notice to the holders of Warrants, accelerate the expiry date of the Warrants to the date that is 30 days following the date of such written notice. The Warrants will be listed for trading on the facilities of the NEO Exchange under the symbol MMED.WT, subject to the final approval of the NEO Exchange. The Company intends to use a portion of the net proceeds of the Offering to finance its collaboration with University Hospital Basel's Liechti Lab and the remainder for general corporate purposes. With this new funding, MindMed plans to expand research & development programs and clinical trials underway at Liechti Lab to create next-generation psychedelic inspired medicines and therapies. MindMed Director and Co-CEO JR Rahn said: "With this financing, we aim to greatly expand MindMed's portfolio researching next-gen psychedelic inspired medicines in collaboration with the University Hospital Basel's Liechti Lab. We are already extremely encouraged by the potential of novel research & development being generated by Dr. Liechti and his team." Subscriptions by an insider of the Company, Director & Co-CEO JR Rahn, accounted for approximately $50,000 of the gross proceeds of the Offering. Participation by insiders in the Offering is exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") by virtue of the exemptions contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101. About MindMed Mind Medicine is a neuro-pharmaceutical company that discovers, develops and deploys psychedelic inspired medicines to improve health, promote wellness and alleviate suffering. The company's immediate priority is to address the opioid crisis by developing a non-hallucinogenic version of the psychedelic ibogaine. In addition, the company has established a microdosing division to conduct clinical trials of LSD microdosing for adult ADHD. The MindMed executive team brings extensive biopharmaceutical industry experience to this ground-breaking approach to the development of next-generation psychedelic medicines. We seek Safe Harbor. ©[/url]